MONTGOMERY – Governor Robert Bentley on Thursday announced that, during his first year in office, new and expanding industry announcement totals rose to the highest capital investment levels in the past four years.
According to new data released by the Alabama Department of Commerce (formerly Alabama Development Office), during the year 2011, there was a 9.3 percent increase in the number of new jobs announced for the state and an 87.7 percent increase in announced capital investment compared to 2010.
New and expanding industries in 2011 announced they would hire 17,248 people and invest $4,083,056,603 in the state. In 2010, companies announced they would hire 15,779 people and invest $2,175,179,750.
“These new figures confirm Alabama is headed in the right direction as we continue to recover from the economic downturn,” Governor Bentley said. “Alabama’s economic development programs are working hand-in-hand with local development partners to create new jobs and new opportunities for people in this state.”
“At the same time, we must work hard to continue the momentum,” the Governor added. “Economic development is extremely competitive, and we are making every effort to keep Alabama at the top of the list for companies seeking to locate or expand here. That’s why passage of the Alabama Job Creation and Retention Act of 2012 is so essential to economic development in the long term. We must make sure we have the tools we need to continue to secure new investment and high-quality jobs for our communities.”
“The cooperative relationships we have established and continue to establish on a daily basis are the impetus for this growth,” Alabama Department of Commerce Secretary Greg Canfield said. “We not only want our companies to locate here, we want them to grow, and we stand ready to help them make this happen.”
During 2011, 70 new companies announced plans to locate in Alabama, creating 4,879 new jobs and capital investments of $1,555,869,746.
During the same year, 313 companies already located in Alabama announced expansions, complete with 12,369 new jobs, and $2,527,186,857 in capital investment.
The top ranking county in 2011 rated by capital investment was Limestone, with investments of $539,200,000. Other top-ranking counties and investments included Morgan, $415,901,000; Mobile, $345,310,000; Tallapoosa, $333,594,012; Tuscaloosa, $324,050,000; Talladega, $301,640,000; Montgomery, $237,778,803; Winston, $200,000,000; Jefferson, $193,307,687; and Cullman, $159,457,619.
The top ranking county in 2011 rated by the number of jobs announced was Colbert, with 2,172 jobs. Other high-ranking counties included Madison, 1,956; Tuscaloosa, 1,457; Jefferson, 749; Mobile, 747; Cullman, 743; Montgomery, 697; Limestone, 655; Lee, 533; and Pike, 530.
Among the largest economic development announcements, were: Navistar International Corporation, which announced 1,800 jobs and $87 million in capital investment for the production of heavy duty trucks in Colbert County; Mercedes Benz U.S. International Inc., with a 1,000-employee expansion and a capital investment of more than $289 million for vehicle production in Tuscaloosa County; and Carpenter Technology Corporation, which announced 203 jobs and $500 million in capital investment for a stainless steel manufacturing plant in Limestone County.
A comprehensive industry report with county-by-county information can be found here. For further information on growth numbers during previous years, check out the chart below.